Terrebonne, Oregon Property Taxes
The median property tax rate in Terrebonne, Oregon is 0.44%, significantly lower than the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Terrebonne at $395,140, the typical annual property tax bill is approximately $1,836, which is well below the national median of $2,690. Property taxes in Terrebonne are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Terrebonne's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Terrebonne or another part of Crook County, a solid grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Terrebonne, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,739
Ownwell’s Terrebonne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Terrebonne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Terrebonne to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Terrebonne, Oregon
Property taxes in Terrebonne, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Terrebonne is 0.44%, which is lower than both the Oregon state median and the U.S. national median of 0.99%. Local government entities within Terrebonne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Terrebonne estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Terrebonne's effective property tax rate to other areas in Oregon and the national median. For comparison, the zip code 97760 has both the highest and lowest median property tax rate of 0.44%, reflecting the uniformity within this specific region. Understanding how these cities compare with Terrebonne provides valuable insights into the varying tax landscape across Deschutes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Terrebonne Tax Rate
0.44%
Average Crook County Tax Rate
0.56%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Terrebonne, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97760 | 0.35% | 0.42% | 0.44% | 0.47% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Terrebonne, Oregon
In Terrebonne, Oregon, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Crook County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Terrebonne, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Terrebonne is $395,140, with tax bills ranging from $994 at the 25th percentile to $3,513 at the 75th percentile, and up to $4,369 at the 90th percentile. The zip code 97760 has both the highest and lowest median tax bill at $1,836. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Terrebonne Assessed Value
$395,140
Average Crook County Assessed Value
$411,765
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Terrebonne, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97760 | $79,000 | $279,840 | $395,140 | $740,050 | $951,290 |
Source: Ownwell
Property Tax Bills Across Terrebonne, Oregon
In Terrebonne, located in Crook County, OR, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate. For instance, with a median home price of $395,140, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. For a clear perspective, the tax bill for the 25th percentile is around $994, while it rises to $3,513 at the 75th percentile and can reach up to $4,369 at the 90th percentile. These figures illustrate the range of property taxes homeowners might face. The highest and lowest median tax bills in the area are both $1,836, indicating a relatively consistent tax rate across different properties. Understanding these factors helps homeowners in Terrebonne anticipate their financial responsibilities and plan accordingly. The local property tax rate directly impacts the overall tax burden, affecting both monthly budgets and long-term financial planning for residents.
Average Terrebonne Tax Bill
$1,836
Average Crook County Tax Bill
$2,320
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Terrebonne, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97760 | $251 | $994 | $1,836 | $3,513 | $4,369 |
Source: Ownwell